Ernexa Therapeutics Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | — | $582,000 | $68,000 | $0 | — |
| Cost of revenue | — | $96,000 | $236,000 | $0 | — |
| Gross profit | — | $486,000 | -$168,000 | $0 | — |
| Research and development | $4.2M | $4.6M | $5.9M | $10.4M | $12.7M |
| Operating expenses | $9.3M | $16.2M | $21.0M | $33.2M | $113.7M |
| Operating income | -$9.3M | -$15.7M | -$21.1M | -$33.2M | -$113.7M |
| Interest expense | $100,000 | $6.8M | $614,000 | $30,000 | — |
| Pretax income | -$14.1M | -$44.5M | -$21.7M | -$24.5M | -$122.5M |
| Income tax expense | -$45,000 | $30,000 | -$3,000 | $45,000 | $64,000 |
| Net income | -$14.1M | -$44.5M | -$21.7M | -$24.6M | -$122.5M |
| Balance Sheet | |||||
| Cash and equivalents | — | $1.7M | $7.6M | $11.4M | $17.0M |
| Current assets | $3.1M | $2.4M | $9.6M | $13.7M | $18.8M |
| Total assets | $5.8M | $5.3M | $49.1M | $22.3M | $31.5M |
| Current liabilities | $3.1M | $2.9M | $6.6M | $7.7M | $3.7M |
| Total liabilities | $3.4M | $3.6M | $46.9M | $10.2M | $6.0M |
| Stockholders' equity | $2.4M | $1.7M | $2.2M | $12.1M | $25.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$7.0M | -$15.8M | -$20.4M | -$21.0M | -$23.5M |
| Depreciation and amortization | $65,000 | $139,000 | $84,000 | $161,000 | $117,000 |
| Stock-based compensation | $1.5M | $1.5M | $1.2M | $2.9M | $5.2M |
| Capital expenditure | $37,000 | $369,000 | $19,000 | $297,000 | $154,000 |
| Free cash flow | -$7.1M | -$16.2M | -$20.4M | -$21.3M | -$23.6M |
| Impairments | $33,000 | — | $0 | $0 | — |
Shares outstanding 1.2M
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.